AAT Intrinsic Value Calculation – American Assets Trust Files for Mixed Securities Shelf
December 21, 2023
☀️Trending News
American Assets Trust ($NYSE:AAT) has recently filed a registration statement with the Securities and Exchange Commission (SEC) for the issuance of various securities in a mixed shelf offering. American Assets Trust is a publicly traded Real Estate Investment Trust (REIT) which owns, operates, acquires, and develops a portfolio of retail, office, industrial, and residential properties across the United States. The securities being offered may include common stock, preferred stock, warrants, debt securities, and units consisting of any combination of the foregoing. The purpose of the offering is to provide American Assets Trust with additional financing for potential future acquisitions and capital investments.
Additionally, the proceeds from the offering will help the company further diversify its portfolio and increase its presence in new markets. This filing marks an important milestone for American Assets Trust as it looks to expand its reach and further strengthen its portfolio of assets. With the mixed shelf offering, American Assets Trust can issue a variety of securities to meet its financial needs, allowing it to take advantage of attractive opportunities in the market.
Market Price
On Wednesday, AMERICAN ASSETS TRUST, a real estate investment trust (REIT) focused on owning, operating and developing premier retail, office, and residential properties in high-barrier-to-entry markets, filed for a mixed securities shelf registration statement on Form S-3 with the U.S. Securities and Exchange Commission. At close of trading market day, Tuesday, the stock opened at $22.6 and closed at the same price, a 0.2% decrease from the previous closing price of $22.7. The funds are intended to be used for general corporate purposes. The shelf filing does not include any specific details of the pricing or size of the offering.
The size and timing of the offering is subject to market conditions, and may change at any time. Investors should carefully consider the company’s risk factors as outlined in the filing before making an investment decision. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for AAT. More…
| Total Revenues | Net Income | Net Margin |
| 434.67 | 49.53 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for AAT. More…
| Operations | Investing | Financing |
| 191.13 | -166.32 | -102.7 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for AAT. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.01k | 1.84k | 19.91 |
Key Ratios Snapshot
Some of the financial key ratios for AAT are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | 27.5% |
| FCF Margin | ROE | ROA |
| – | – | – |
Analysis – AAT Intrinsic Value Calculation
At GoodWhale, we have conducted an analysis of AMERICAN ASSETS TRUST’s health. Our proprietary Valuation Line has indicated that the fair value of their share is around $29.6. Currently, however, AMERICAN ASSETS TRUST stock is traded at $22.6, which is a 23.5% undervaluation. This presents an opportunity for investors to purchase these shares at a discount. More…
Peers
The company’s portfolio consists of office, retail, and multifamily properties. American Assets Trust is one of the largest REITs in the country and its properties are located in some of the most desirable markets in the country, including Los Angeles, San Diego, San Francisco, Seattle, Washington D.C., and Boston. The company’s competitors include Cominar Real Estate Investment Trust, Sunway Real Estate Investment Trust, and Sunlight Real Estate Investment Trust.
– Cominar Real Estate Investment Trust ($KLSE:5176)
Sunway Real Estate Investment Trust is a Malaysia-based real estate investment trust. The Trust’s objective is to generate regular and stable income distributions and long-term growth in net asset value per unit by investing in a diversified portfolio of income-producing real estate assets in Malaysia. The Trust’s portfolio consists of retail, office, hotel, industrial and healthcare properties. As of December 31, 2014, the Trust’s portfolio comprised a total of 52 properties with a gross floor area of approximately 12.1 million square feet.
– Sunway Real Estate Investment Trust ($SEHK:00435)
Sunlight Real Estate Investment Trust is a publicly traded real estate investment trust that owns and operates a portfolio of properties in the United States. The company’s portfolio consists of office, retail, and industrial properties.
Summary
American Assets Trust (AAT) is an equity REIT that focuses on acquiring and managing retail, residential, and commercial properties in high-barrier-to-entry markets such as California and Hawaii. AAT recently filed for a mixed securities shelf offering, which will allow the company to offer a variety of debt and equity securities in the future. This filing increases AAT’s flexibility to raise capital when needed and also provides investors with more options for investing.
Analysts are optimistic about AAT’s growth prospects, noting the company’s solid portfolio of properties, strategic location in high-barrier-to-entry markets, and strong management team. Investors should consider AAT as a long-term holding with potential to provide stable returns over time.
